South Korea earmarks $26B for 5G initiatives

Originally posted on MobileWorldLive.com on April 9, 2019

South Korean President Moon Jae-in (pictured) outlined government plans to support the 5G ecosystem by investing more than KRW30 trillion ($26.2 billion) over the next four years, The Korea Herald (KH) reported.

Investments will span a variety of segments, such as autonomous driving, smart cities, digital healthcare and smart factories.

The government, mobile operators and Samsung held an event on 8 April at Olympic Park in Seoul to celebrate the launch of 5G services to consumers last week. During the event, the president said the country should aim establish “the world’s best 5G ecosystem” and garner “15 per cent of the world’s market share by 2026”, KH reported.